With all their combined success, Dr. Dre and business partner Jimmy Iovine have plenty of finances to go around, so they are giving some of it away.
According to Los Angeles Times, the music moguls are slated to donate $70 million to the University of Southern California (USC) on Wednesday (May 15).
The endowment will be used to create the Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation.
“The vision and generosity of Jimmy Iovine and Andre Young will profoundly influence the way all of us perceive and experience artistic media. Our goal is to ensure that the academy is the most collaborative educational program in the world,” said USC President C.L. Max Nikias in a statement.
The four-year program will offer undergrads courses in entrepreneurship; technology, art, design and marketing. It is slated to launch in Fall 2014.